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but not detailed in legislation and has a big, big dollar figure around it. so, sort of the big plan. passing that along with a debt ceiling as sort of a big theory option instead of this mcconnell/reid plan, but it's so vague, as you can tell, and nothing that i have as any sort of firm plan, just, like, something that's sort of out there in the ether, they just don't have a plan at this point, no one does, john. >> it sounds like, and some people at home are saying, my god, there they go into washington speak again. i'll try to simply phi it. they are trying to fit certain pieces together to get you to several trillion in deficit reduction and that seems to be where we are, a bunch ideas. i'll go over to the wall a little bit, because jess talks about the mcconnell plan, that would give the president the authority to raise the debt ceiling and maybe they would come up with a commission with spending cuts. that's one backup plan. another backup plan is the gang of six. and i want to bring up the gang of six yesterday we talked about that. they have some significant spending cuts. they includ
it would have no choice but to default on some big bills, the ceo of walmart told congress today the squabbling here in washington could have a huge negative impact nationwide on an all fragile recovery. >> a default and the ripple effect i think would be impactful and representing our consumers, we think that that would be very, very difficult for the american economy to withstand at this point in time in our history. >> that's here at home. >>> then there are global worries. concerns that a default or even a close call here could rattle international markets and international economies like that domino effect back after the big wall street meltdown a few years ago. >> the united states is the largest economy in the world, one that matters, one that has spillover effects, not just around the borders, but on a complete basis, globally. >> so, the stakes, they're obvious. the path to the solution, however, not nearly as clear. >> is it today, is it tomorrow, is it friday? magic things can happen here in congress in a very short period of time under the right circumstances. >> now,
, here in the states, we aren't paying as much attention to it, but it has big news over in the uk. hugh grant among a lot of people who say their phones were hacked by journalists. richard, you talked to him, what did he say? >> reporter: it's interesting, you say. the scandal is large, it's growing. the british government today said that there would be a public inquiry when the police are finished investigating. rupert murdoch, who owns the newspaper, by the way, it's this newspaper we're talking about, it's call "the news of the world," the normal rumor and gossip all dressed up with scantily clad ladies. when they started wholesale hacking of voice mail, it went into a different league. particularly, it was celebrities, it was stars, and now it's being dead murdered girl's voice mails and the patient parents of bomb victims and the like. when i talked to hugh earlier today, he said it's time to stop, it's time to say these newspapers, enough is enough. >> well, it began with just personal grievance, because i was a victim of phone hacking. and then i had this extraordinary piece of l
the cia gets caught up in this big debate about how to interrogate what to do. >> they say it's tough. anytime they operate outside of iraq and afghanistan in battlefields it becomes murkier. they say they're faced with the question of can he go back to the u.s. and be tried? that has to go through several agencies. can he have a third-party that take him when neither of the two are available, they would be forced to let someone go. >> the obama administration's treatment of the somali terrorist suspect isn't sitting well with lawmakers on capitol hill. among them lindsey graham of south carolina. >> we learned this morning that a gentleman was taken into custody, kept on a u.s. ship and he's now in custody. >> the last thing i'm worried about is prosecuting enemy fighters. i want to find out what they know about the enemy, what intelligence value do they have to the united states. having people on ships has never been used in warfare before in terms of prisons. he should have been sent to guantanamo bay and held as an enemy combatant and interrogated. >> the administration would make
time. sonja "black widow" thomas won with 40 dogs. i'm a big hot dog lover and can't imagine that. how many do you think you could eat? if you're hungry and like them. they're not the biggest. >> personally, i have had three. >> i can do better than three. >> really? >> i was thinking six or seven. >>> coming up, a grizzly discovery in an indiana creek. police waiting to see if it sheds light on the disappearance of a college coed. >>> also, a civil war reenactors in a battle with mother nature. why they got the shock of their life. >>> wowing the crowds in canada, what the royal couple is up to today. chronologically i'm sixty years old. is it the new forty, i don't know. i probably feel about thirty. how is it that we don't act our age? [ marcie ] you keep us young. [ kurt ] we were having too much fun we weren't thinking about a will at that time. we have responsibilities to the kids and ourselves. we're the vargos and we created our wills on legalzoom. finally. [ laughter ] [ shapiro ] we created legalzoom to help you take care of the ones you love. go to legalzoom.com today and co
the band-aid. eat our peas. >> reporter: of course, taxes remains the big sticking point. the president, though, insisting that nothing would change before 2013 so it would not happen during a difficult economic environment, but house speaker john boehner saying that there's no reason to raise taxes in order to control spending. he believes the best way to get revenue is by improving the overall economy by creating jobs. he says he is willing to get a deal done with democrats and the white house, but, in his words, it takes two to tango and they are not there yet. >> dan lothian at the white house, thanks. >>> the debt crisis overseas sending a chill through wall street this morning. less than half hour before the opening bell, u.s. stocks may be headed for another rough day. ali velshi is joining us live from new york. ali, what does it mean? >> well, you know, first of all, futures seem to be leveling out a little bit, kyra. a couple of things going on here. one as dan was just saying, we just heard from the treasury secretary who is making a speech and he says he is expecting a deal
negotiations. >> so, now what is the big question? speaker boehner will rebut the president just about 14 minutes from now. we'll take you there live. in his letter to his colleagues, he said his preference now is to work on a plan in the congress. but the president expects the house and the senate leaders of both parties at the white house saturday morning. is this just theater before a deal or a recipe for gridlock and maybe an economy shattering government default? chief white house correspondent jessi jessica yellin, and kate bolduan, and gloria borger here, jess, the speaker doesn't want to negotiate anymore, and this is not a president known for his anger or his temper, but he seemed pretty piqued. >> reporter: this was the president hitting by far his most frustrated, fed-up note during the debt negotiations by far, john. we heard him say that the republicans just don't know how to say yes. that he offered the most generous package he could. in short he said that he offered them a deal that democrats just didn't like. he was basically saying he was enraging his own party, how could
to meet with the president if he is really willing to do something big for the country. >> all right. again, it's ask obama. that's the hash tag you are supposed to use. these tweets, thousands and thousands of them are pouring in. it gets going in an hour. these are all you are seeing in real time behind me right now. again, the president responding to your questions, and one coming in on twitter at his twitter town hall at the top of the next hour. >>> this hour's sound affect is the first victory of the 2018 winter olympics. the decision on where to hold them. >> the international olympic committee has the honor of announcing that the winter olympic games in 2018 are awarded to the city of -- pyengchang. >> well, after losing the 2010 games and the 2014 games to russia, and they pulled ahead to play post to the 2018 games. south korea never hosted a winter olympics. and seoul had the games in '88. >>> other stories we're keeping a close eye on. a facebook event that is expected at any moment and expected to be awesome. room nuumors have been swirlinge internet, to a video chat ser
reform. it is quite a big undertaking considering there isn't a lot of time left but certainly some movement that we have seen since yesterday, guy. >> any specifics? i think important people who are listening to the process of what's happening in washington, what this means for people over a longer period of time is fewer services and smaller government and maybe higher taxes or higher cost of living your life as the services go away. i mean, all of these have amazing and long lasting ramifications for how we live our lives. my specifics? >> huge long -- no. honestly in terms of the specific, i mean, we can talk generally about where the cuts would come from, entitlements, defense spending, you can see how that would affect different people and the nation as a whole. specifics, no, i think we are going to be getting, obviously, more details on that to come. let's just take a look at some of the things that some of the folks who are coming here to the white house are going to demand because, remember, president obama is hosting eight members of congress, top two democrats and top tw
down. >> to emphasize why this matter, this is as big a crisis in britain in a generation plus. it's the police, political establishment, media establishment and the most important media person in the u.s. which is rupert murdoch. not to cover this would be journalistic malfeasance. >> you have the democratic senatorial campaign putting out a statement. you wouldn't see that liberals who don't like rupert murdoch are just milking this for all it's worth? >> if this had no connection whatsoever to the nature of the operations, especially through fox news, you might say they're reaching. since the basic accusation that michael wolf was saying, that murdoch is using his media power for political ends is similar in the u.s. and the u.s. it's natural the democrats would say this. >> on your media blog at "the washington post" you took on a story about the difference between british and american journalism. you say basically we should come out and say british journalism standards are sleazy and destructive. you think we're dancing around this? >> in this particular iteration, i couldn't
that really gives the republicans too big a win on that issue. and they would also argue, to gloria's point earlier, that you actually need this. this is not just a win for democrats, you need it because you need democratic votes to get this through because you're going to lose so many republicans who simply won't vote to extend the debt ceiling under any circumstances. so that's the calculus if you went with the middle deal, there would be an entirely different math for a tax reform package if you went with that larger deal that's more in the $4 trillion range. >> the irony here to me is that a larger deal would in many ways be easier to cut because it's so obvious what you would have to do. if you do a smaller deal, then you have to have eric cantor lay out by piece by piece by piece, cut by cut, by cut, what he would do if you don't have the revenue side of it. >> but to get the bigger deal, you need trust that they would actually then do comprehensive tax reform, rewrite the code so the republicans would make the case we didn't raise rates. trust is a word put to the test over the week
election and we don't know who the republican candidate will be but already we have one big group that is throwing its support behind president obama. jim acosta is on that for us out of washington this morning. hey, jim. >> reporter: good morning, kyra. this is not a big surprise. we went a lot of time talking about the republican race for 2012. on the democratic side the president picked up an important endorsement yesterday from the national education association. this is the teachers union as everybody knows. and the vice president gave a pretty important speech yesterday to this union and so, today, the teachers union is throwing its support behind the president. not unexpected, as i mentioned. we got a quote from the president of the nea, dennis van roekel. what is somewhat surprising about all of this is that the nea would come out with this endorsement this soon. the president has sort of occasionally and his administration has occasionally shown tough love toward the teachers around the country and the nea has come out strongly behind the president he saying they are conc
stick with me. we'll take it. go, big money! i mean, go. it's your break, honey. same coverage, more savings. now, that's progressive. call or click today. >>> to norway now. today we learned that the lone suspect in that horrible bombing and shooting attack that killed 93 people has confessed to both. he is expected to make his first court appearance in oslo tomorrow. cnn's michael holmes will be there when he does. michael, today you met a norwegian man who has an unforgettable story about what happened on friday. >> reporter: yeah. casper largo is his name. he was one of several good americans who when the shooting erupted over on this island, they heard about it, they got on their boats, they went to the island and did remarkable things. getting dozens of those kids off the island as the shooting continued. i want you to listen to part of a conversation i had with him earlier today. >> i asked the guard to go off in the water and hold the boat. asking them to name themselves. >> you thought there was a kind of rapport? >> yeah. have a kind of connection. they're devastated. in sh
tennessee. can they sell it to the house republicans? >> that's a big question. i think what we saw today both from president obama and someone like lamar alexander is this isolation that going on of the house republicans, saying, look, the gang of six got a deal, that's why president obama went out this to say it. mitch mcconnell's got a backup plan. john boehner and i were kind of working together and, well, who's out of that picture? the house republicans. and the polls are increasingly showing that the house republican point of view is not popular with the american public. i mean, there's a "washington post" out -- poll out tonight that says that more than three-quarters of americans see the republican leadership as being too resistant. >> however, however, let's listen as we go back to kate bolduan on the hill, the democrats are reading the polls. the democratic leadership going to the floor essentially saying, republicans, why are you wasting our time? >> the public has had it with this theater of the absurd that's going on. they want congress to come together as our president has s
with the details. the president is talking and they are hoping for a big grand bargain. what is your sense? >> reporter: well, they have to get one done. so it's sort of the opposite of a cliff hanger. we know how it will end. the question is how do they get there from here? the big question first of all that i can report is that the president told congressional leaders that under no terms will he sign a short-term deal. he is not going to accept anything other than something that raises the debt ceiling through 2012 and that is flat out a promise. he was unequivocal. beyond that, the question over the next few days is, how do they get to this negotiation and all eyes are on john boehner, speaker boehner is the man who has to explain to them where he can get the votes, what it would take for them to deliver. and they are really looking to him. all the negotiators, to explain what the deal would look like for them to get on board with that. >> let's look at the tough choices that they have to make. if you have a grand deal, you have to have a number of things. maybe social security means if
the big names on the left and the right from paul crewingman to alan greenspan to the chamber of commerce all say missing the deadline would be suicidal. yet both sides have been playing chicken on the issue for months. tonight house minority leader erik cantor against making any revenue increases as part of a debt deal said he might be willing to talk about closing some tax loopholes. he the rest of the gop leadership and their democratic counterparts on call to meet with president obama tomorrow at the white house. some breaking news there, the "washington post" just now moving a story reporting on a possible big concession the president might put on the table. the post reporting he will for the first time offer up significant savings in social security. the newspaper sourcing it to people in both parties with knowledge of the president's proposal. in any case, today mr. obama called on both sides to get moving. >> congress has a responsibility to make sure we pay our bills. we've always paid them in the past. the notion that u.s. is going to default on its debt is just irresponsible. a
, that someone else has to do that for us. so it is going to be a big change for some folks. >> reporter: stillson always dreamed of being a launch director. no woman has ever held that job. but for now, nasa has nothing for her to launch. back on-board -- >> let's take a look. >> reporter: -- crawl about 12 feet. i'm going to drag these cables in, too. on the other end is the shuttle's cargo bay, spacious enough to hold a school bus. over the 39 flights of "discovery," dozens of rauns in space suits have been at this exact vantage point waiting to step out to repair a satellite or build the space station. >> grab the hand-hold here and then just keep coming, put a hand up here, and can you pull yourself right on up. >> reporter: we're climbing the ladder to the flight deck. in the weightlessness of space you'd just float your way up. i'm in the privilege of the commander seat. there's a lot of buttons here. i guess i shun touch. >> john, here we are on the flight deck of "discovery." the commander sits in the left seat. the pilot sits in the right seat. >> reporter: the windows are cove
in companies embracing the cloud-- big clouds, small ones, public, private, even hybrid. your data and apps must move easily and securely to reach many clouds, not just one. that's why the network that connects, protects, and lets your data move fearlessly through the clouds means more than ever. >>> minding your business this morning. investors on edge about financial instability in europe. stock futures trading lower after moody's downgraded portugal's credit rating to junk and markets closed almost flat yesterday. >>> president obama inviting democratic and republican leaders to a meeting at the white house thursday. thursday. to discuss raising the debt ceiling. if lawmakers can't come to an agreement by august 2nd the treasury department says it will not be able to pay all of its bills on time. >>> a facebook about to unveil what it calls something awesome. so far the social network won't say exactly what it has in store for today's announcement but the buzz is it's some sort of partnership with skype. >>> twitter shopping for another round of private financing according to the "wall s
? >> reporter: i think it's a step in the right direction in terms of reaching a compromise. the big question remains while we have heard that harry reid signed off on the deal, where do republicans -- the key republican negotiators in this whole deal, where do they stand on the issue? in the house as well as in the senate. well, we're still obviously looking to get guidance on that. we have heard from one top senate republican leadership aide who said at least -- at least right now they're not there yet saying the agreement is not done and that they're still working on it. so it seems that while harry reid, he's onboard. seems at least for the part of senate republicans, seems there needs to be a little more work to be done before -- to get them onboard as well. >> okay. a little more work. do you have any idea about the timing? or we just don't know? it happens when it happens? >> to be honest, i don't think anyone really knows about the timing. this story has changed from moment to moment. it's very fluid. it's always the question, i promise you, it's the question that we've been asking ev
is a big question and when we should be jumping to conclusions about. >> giuliani is also a longtime friend of rupert murdoch. >>> now the nation's debt crisis and a new deadline. forget august 2nd. the president says it's decision time now. here is what he told congress. you've got 24 hours or less to move forward on a deal. and then there is this dire message from the big three global credit ratings agencies. if a deal isn't reached soon, they will downgrade the nation's credit standing. the president speaks to the american public today. a news conference less than two hours away from now. 11:00 eastern. we will carry it live. >>> let's get to the white house and dan lothian. what do we expect the president on say come 11:00? >> reporter: well, a senior administration official telling me the president will be explaining to the american people where they really are in this process, what he has asked congressional leaders to do, and how he is still pushing for the biggest deal possible. another white house aide telling me the president will continue in that press conference to make the case
have a big hole to fill. each new job, that was created last month is good news for the people who are back at work. and for the families that they take care of. and for the communities that they are a part of. but, our economy as a whole just isn't producing nearly enough jobs for everybody who's looking. we have always known that we'd have ups and downs on the way back from this recession. over the past few months the economy has experienced some tough headwinds from the natural disasters to spikes in gas prices to state and local budget cuts that have cost tens of thousands of cops and firefighters and teachers their jobs. the problems in greece and in europe along with uncertainty over whether the debt limit here in the united states will be raised have also made businesses hesitant to invest more aggressively. the economic challenges we face were not created overnight, and they are not going to be solved overnight. but the american people expect us to act on every single good idea that is out there. i read letter after letter from folks hit hard from this economy, and none of
just another decision to push big problems down the road? let's begin there with fareed zakaria. you would think the possibility that the united states would default on its obligations for the first time in history you would think would bring a grown-up conversation to washington, it would be that. but? >> it's truly bizarre, john, because what it seems that republicans are not focussing on is the fact that were the united states to default, were there to be a danger it would default, america's interests costs would go up dramatically. if we were to, say, have a 1% rise in our borrowing costs, that markets got scared that we were not going to make good on our payments and our borrowing costs went up 1%, that's $150 billion more that we have to spend every year on our interest payments on our debt. and this is very important. if we do this for a week or two and still resolve things once markets get scared, it takes a long time for those interest rates to come down. just look at any case in history where there has been a default. once you have a crisis, even if you settle your book, yo
up 9.2% today. bad news for the administration. here is the big question, where are the jobs? you see jobs started to go up in a better rate, but the last two months, very bleak. consider this, even if the economy added 125,000 jobs a month, 125,000 jobs a month, between now and the election next year, that would keep the unemployment rate flat lined, right around 9.2%. the president, if he wants the rate to go down needs dramatic improvement in the jobs climate and need it is quickly. one more here, pretty sobering if you look at it the government 14.1le million unemployed, half of them long term. add in those underemployed, people who can only find a part-time job, about 22.7 million people hurt and hurt badly by this economy. let's dig deeper, chief white house correspondent jessica yellin and in new york where traders on wall street literally gasped when the report was released. jess, to you first, hard enough for the president, facing re-election, the unemployment rate is stubborn in the middle of this, trying to get a deficit reduction deal. you have reaction to the jobs report,
decided to engage in just nothing but blatant character assassination. and that, i think, was the big problem in this case. they didn't have -- and they had a sequestered jury. and apparently the kind of guilt by osmosis that they would have seen if they weren't sequestered didn't seep into that jury room. instead of people saying that this is a tragedy, because anytime that you have a little girl who dies, that's a tragedy. to me is absolutely inexplicable. if you don't know what happened, how can you convict somebody beyond a reasonable doubt and put them to death? i mean, it makes no sense whatsoever. maybe it's good for iran or north corey ca but not in america. >> i'm going to ask everyone to stick around. we'll come back to you shortly. let us know what you think. we're on facebook or follow me on twitter @ john king cnn. i'll be tweeting tonight. up next, more what the defense did. how it did for their client with a reputation for truth telling -- in that vein we'll highlight some of the many statements casey anthony made that were simply not true, including an imaginary nanny.
rates go up. credit cards, mortgage rates, auto loan rates. you mentioned august 3rd, that big social security payment? according to many republicans, unless we default on an actual debt we don't have to get our debt downgraded. according to s & p and ben bernanke, if you default on any payment you're supposed to make, even if it's not to a bond holder you could face that. >> republicans who say, look, i don't buy it's this big catastrophe waiting to hit after august 2nd. >> reporter: they absolutely could be right. but anderson, you and i were together on september 15, 2008 after they decided a lot of smart people decided to let lehman brothers fail thinking it's not that big of a deal. i don't know which way it's going to go. i don't know if we should be playing with fire like this. >> john, what do you make of jessica's reporting that she's hearing mitch mcconnell is wanting president obama to be at the table in any negotiations? >> as a couple of political reasons for that in the sense that then you can't cut a deal then the white house will say we're going to try this. to move th
save hundreds! yeah, that'll certainly stick with me. we'll take it. go, big money! i mean, go. it's your break, honey. same coverage, more savings. now, that's progressive. call or click today. >>> 15 days until the treasury says it will run out money. a tea party leader says don't raise the debt seeing and he says president obama is lying about the consequences if we don't. "keeping them honest" about what many republicans believe is central to solving the long-term problem. a constitutional amendment to balance the budget. they vote on "cup, cap and balance." cutting spending to 2004 levels and caps it and freezes it right there and calls for a balanced budget amendment to the constitution. >> all that we ask in this bill is that we simply allow the states to weigh in, should the federal government live under a balanced budget amendment. should they do that? >> i don't understand why people won't vote for the a balanced budget amendment because it's the only discipline that will ever force the politics of washington to meet the responsibilities of washington. >> let's do somethi
. >> okay. so mary jo and jo-ann, we haven't forgotten you. we're going to talk to you because it's your big day. we're going dom back after the break and we want you to watch this with us. we're going live now to new york city. that's where michael bloomberg is going to marry his aides after a break. i love that my daughter's part fish. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our pediatrician gets all the information. everyone works as a team. and i only need to talk to one person about her care. we're more than 78,000 people looking out for 70 million americans. that's health in numbers. unitedhealthcare. [oinking] [hissing] [ding] announcer: cook foods to the right temperature using a food thermometer. 3,000 americans will die from food poisoning this year. check your steps at foodsafety.gov. >>> it's a fine and fancy day in the city of new york. i feel like i should be wearing my seersucker suit
on in washington. what's your view on this? >> i think there's a big difference between the two. so the comparison doesn't really ring true with me because we can't do things like raise taxes. only thing we can do is get job number three and four. it's important to, of course, look at your own budget and own debt levels. in terms of the government's situation, it's very, very different. i don't think the comparison really gels for right now. again, we can't raise the money like they can. >> right. >> we have to pay attention to how much debt we're holding on to and how much we're paying for it. if the rating changes of our country and debt. >> your rate may go up. >> our rates are going to change and that's going to cost a lot. >> i agree that it's not the same. i would say the closest annualo for many people is how much money they have invested in their house which may not be worth what it was when they paid for it. >> this is huge. we had a big report from pew research center about the drop in minority wealth. the biggest culprit is the housing market. so much of the net worth put in the housing
failed to make its case. >> the prosecution did not prove their case. the big question that was not answered, how did caylee die? i think there was probably a lot of discussion of it being a horrific accident that dad and casey covered up. unfortunately, it did snowball and got away from them. >> jeff toobin, we've had this conversation before in high profile cases. does sunny have a point? one big trial i covered was the von bullough count. they tried to get seven counts. should they have taken one or two counts that they thought they had a stronger case on and focus there? >> it's not the number of counts, john. it's the death penalty. this was from the start not a case that cried out for the death penalty. there was so many holes in the evidence. where did she die? how did she die? what day did she die? none of this the prosecution knew. there were no eyewitnesses to the murder, as sunny said, the issue of motive was murky. in a lot of all that, some sort of accidental homicide would seem to have been a much more plausible theory. interestingly the alternate juror we
republicans there's frustration that the democrats aren't putting enough on the table. the big picture is that the clock is ticking and these talks aren't bearing fruit. they don't seem to be locking down agreements and moving on to the next big issue which is what we call progress. they need to be making progress if they're going to have a deal any time soon. >> yes, it does require progress to get a deal. let's dig a little deeper here. jess just mentioned there seems to be a tug of war within the house republican congress. john boehner was talking about this grand bargain, $4 trillion over ten years deficit reduction package, that would have required some new rev news. some of us call those new taxes in washington, d.c. listen to the speaker today, it sounds like he's getting a little tougher. >> my message to the white house over the last several months has been real simple. the spending cuts have to be larger than the increase in the debt ceiling. secondly, there are no tax increases on the table. and thirdly, we have to have real control in place to make sure this never happens a
. hi honey! ♪ h-o-t-w-i-r-e... ♪ hotwire.com >>> no progress reported tonight on the big deficit reduction talks at the white house. with that, this warning tonight from moody's investor service. the federal government could lose its top of the line credit rating if the white house and congress can't agree on a plan to increase the nation's debt ceiling, meaning allow washington to borrow more money to help pay its bills. that warning came just a few hours after this sober math lesson from the fed chairman ben bernanke. since the government borrows 40 cents of every dollar it spends, a fall you'ilure to increase washington's credit limit would require a 40% cutback in spending. >> significant cuts in social security, medicare, military pay, or some combination of those in order to avoid borrowing more money. >> now that sounds ominous, but some conservatives think the catastrophe scenarios are exaggerated. >> if congress fails to raise the debt ceiling by $2.5 trillion, that somehow the united states will go into default, and we will lose the full faith and credit of the united s
the c. and he appeared to be picking up the votes. lesson to shawn duffy. >> is this as big as we wanted to go? heck, no. we wanted to go bigger. we ran on going bigger. but this is the only proposal on the table that accomplishes the goals that we set out to do. >> progress but apparently and this is why we have such a drama unfolding on capitol hill, not enough progress. the speaker is still short the votes. he's delayed the key vote, a key vote to not only if you are sitting at home, maybe you think the debt ceiling should be raised, maybe you should, it's a fundamentally important political showdown, some people think the speaker's hold on his job could be in jeopardy if he loses this vote. let's go to kate bolduan, do they believe they can twist enough arms to get enough votes to pass this tonight? >> reporter: fabulous question this evening and one that is very hard to answer at this moment. i can tell you, let me just give you the lay of the land what you can probably see a little bit of, john, you were talking about the speaker's office, it's right down the hallway, what we're se
, no increase in the debt ceiling, pay its bills based on big-ticket items. that would be interest on the debt. social security, medicare and medicaid, defense spenders. unpemt employment insurance. what you'd get under the big-ticket scenario is a drawing off the line. that's your $172 billion. the government is out of money if you don't increase the debt ceiling. what gets cut? military pay. wouldn't get their checks under this scenario. veterans checks, irs refund. if you're waiting for one you wouldn't get it. nutrition services, foods stamps, wouldn't get paid. federal salaries, education department, other and you heard him mention for reason aide to the palestinians. you have to make the choices and cut it off right here. that's one way. suppose you decided instead we'll put a priority on the social safety net. under this scenario, interest gets paid, social security gets paid, medicare and medicaid and those nutrition services that got cut off last time, you could pay them. housing grants would go out. veterans affairs, unemployment, education and tuition assistance. but under this set
in the witness chair and hall tingly answered the questions. rupert murdoch says he runs a big company and couldn't be expected to know the details of illegal conduct at one london tabloid or precisely how it was covered up. the chief executive of news corp. went out of his way to down play his influence. >> sometimes i would say to keep in touch. i edit "the sunday times" nearly every saturday, not to influence what he has to say at all. >> perhaps the most penetrating question came from a member of parliament who wanted to know just where does the buck stop? >> do you accept responsibility for this whole fiasco? >> no. >> you're not responsible. who is responsible? >> the people that i trusted to run it and then maybe the people they trusted. >> the hearing was carried live by all three cable news networks, including murdoch's fox news and made headlines here and around the world. >>> 80-year-old global power broker rupert murdoch called this the most humble day of his life. we watched him called to account in front of british parliament for the scandal that outraged the world. >> rupert murdoc
amendment? >> well, this has become a very big subject in the law professor world. the 14th amendment is one of the most familiar parts of the constitution, guarantees due process of law, equal protection of the law. but there is frankly a provision in section 4 that i have never paid any attention to before. and it goes like this. section 4 of the 14th amendment said "the validity of the public debt of the united states shall not be questioned". now, i don't know exactly what that means. i don't think anybody knows precisely what that means. but it has been suggested that under that provision, president obama could simply order that the debt be paid and that this crisis be forestalled. he has mostly reject that option, but as far as i've read their statements, they have not completely rejected that option. obama has always said, look, i think this should be dealt with by congress, not by unilaterally under the 14th amendment. but under my reading of their statements, they haven't completely ruled out in a total crisis situation invoking the section of the amendment and ordering the debt pai
or will this cause some bigger conversation? that's a big question. >> and earlier in the week, anderson, we were talking about whether the white house might possibly agree to some kind of a short-term patch of two to three days in order to get the negotiations really moving again. and i think, you know, as the clock ticks i think we have to look back to that scenario and wonder whether that's a possibility again. >> remember all that grand bargain big talk? doesn't that seem like 20 years ago? was that like two weeks ago? >> yeah. although if you talk to some democrats and jessica's been reporting that the white house is still talking about some kind of a grand bargain, right? so it seems like a long time ago. but funny how these things work, right? >> john, gloria thank you. i want to bring in two other perspectives now. on the left democratic strategyist cornell -- and former senate candidate mccain advisor and former hue let pack yard ceo, carly fiorina. carly, just in terms of the politics of, this how do you think republicans are looking at this in terms of the political who's going to get
, in your neighborhood, or at hertz.com. you noticed! these clothes are too big, so i'm donating them. how'd you do it? eating right, whole grain. [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. multigrain cheerios... five whole grains, 110 calories. the motorola expert from sprint. its powerful tools help you work faster and smarter so you can get back to playing "angry birds." it lets you access business forms on the go, fire off e-mails with the qwerty keypad, and work securely around the world so you can get back to playing "angry birds." it's the android-powered phone that mixes business with pleasure. so let's get our work done, america, so we can all get back to playing "angry birds." the motorola expert from sprint. trouble hearing on the phone? visit sprintrelay.com. >>> a judge slammed casey anthony with a four-year sentence, but with time served, she'll walk in just six days. perhaps no one is more stunned by this outcome than the lead prosecutor in this case, jeff ashton. and jeff is still with me now. jeff, when you heard about
can pass august 2nd and it won't be a big deal. i'll give you a few seconds to look them in the eye and say, you're wrong. >> yeah, i think you're wrong. now, of course, i don't know for sure. this is unprecedented but there is a $23 billion social security payment due on august 3rd that is not at all clear that there will be enough cash in the treasury to make that payment. so i think david is right. why would you want to take that chance? tp doesn't make sense. not for the social security recipients or for the economy or entire global financial system. >> david walker, the president meets with speaker boehner over the weekend and they are clearly not making any tangible progress. the house will go forward this week and senate will most likely vote on a balanced budget amendment and some other things that simply, to be honest, can't pass or even if they did pass the president would veto. they will move to the mcconnell plan and convince the republicans that they have your vote. do those votes undermine confidence in the market in a deal that might be reached? >> well, i think the m
say this. but i don't think anyone should be surprised. and they won pretty big. the question is, where l they compromise going forward. i had two republicans saying they don't want to vote for anything in the end that doesn't want to have a pass the balanced budget. to get the debt ceiling, you have to pass a balanced budget. this is too important of an issue. >> they want to vote on an amendment. and we need to have that and give them an opportunity to vote on a balanced budget amendment. and the reid cut does not -- there is more of a commitment to spending in the near term and a path way to get a retitlement with triggers to force action to get addition@savings. those are two things that have to be in there. and it's going to be fortunate get republican spoort. >> one of the political arguments and the arguments for anyone at home f you get a deal in the end there is talk that the ratings agencies will downgrade the credit rating because it's to messy. i want you to listen to the president. if you have a conservative, you don't want taxes as part of the deal. if the credit ra
. the big vote still to come. >> wolf, they have something in the rules committee that allows members of congress to basically strike the last word if there's ame amendments and stuff that must go to it. this is a procedural vote. >> you used to work for the speaker of the house when he was newt gingrich. >> the motion is the minority party's shot at an alternative. it will be defeated by the majority. >> it's been really intense over these past 24 hours. it looked very gloomy for the speaker, john boehner. all of a sudden they sweetened the pot for the tea party supporters, freshman republicans, and now it looks like he's going to get this language passed. >> a guaranteed vote on the balanced budget amendment. i think that the speaker of the house would not even be bringing this up if he were not absolutely sure that he did not have the votes to pass it which is why he didn't bring it up yesterday. what's interesting about this is we watched for hours last night. people going in and out of his office. pizza being delivered and all the rest. what's interesting is that in the old days
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